Under terms of the deal, Volt will leaseback 100 percent of the campus for 15 years. The sale price was not disclosed.

“The Volt Campus is an excellent addition to our Orange County portfolio and our first purchase in the City of Orange,” Ray Lawler, Hines managing director, said in a prepared release. “The Volt Campus is the 13th Orange County Hines/Oaktree acquisition and our portfolio is spread across eight cities to include Anaheim, Brea, Fullerton, Irvine, Newport Beach, Orange, Santa Ana and Yorba Linda.”

Hines has assumed on-site property management responsibilities on behalf of the joint venture.